Kazakhstan Develops Investment Projects To Reduce Methane Emissions - Minister
Date
11/15/2024 5:10:51 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 15. Kazakhstan has
developed a plan of measures and a list of investment projects
worth about $400 million to reduce methane emissions in the context
of economic sectors, the Minister of Ecology and Natural Resources
of Kazakhstan Yerlan Nyssanbayev said at a panel discussion on
“Mobilization for Climate Action: countries, multilateral financial
institutions and the private sector implementing the Paris
Agreement,” Trend reports.
“Multilateral development banks and the private sector play a
key role in the climate process. There is a need to join forces to
achieve greenhouse gas emission reduction and climate change
adaptation targets. This requires coordinated action at the state
level,” he said.
According to him, the commitments made in Paris to limit global
warming to well below 2° Celsius and efforts to keep it at 1.5°
should be echoed not only in speeches but also in actions.
“In the medium term, we are working on the development of
nationally determined contributions, which also require significant
investment and assessment. To implement measures for 5 years, we
announced the accession of Kazakhstan to the global commitment to
reduce methane emissions,” the Minister of Kazakhstan noted.
He emphasized that for the climate transition of countries such
as Kazakhstan, transition finance is important. The synergy between
countries, international development banks, and the private sector
is crucial. Multilateral development banks and international
organizations can act as catalysts for change, ensuring that
climate finance reaches those who need it most, especially
developing countries.
“In conclusion, I would like to highlight Kazakhstan's
initiative to strengthen common measures and develop joint
approaches to the regional climate process. Kazakhstan plans to
hold a regional climate summit in 2026. We call on international
banks and organizations to support this initiative," Nyssanbayev
said.
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